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Leadway Assurance Sets Bold Post-Recapitalisation Agenda Beyond Compliance

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BY NAECHE-NAECHE-ESEZOBOR—Leadway Assurance Limited said its recapitalised era will be defined not only by regulatory compliance, but by audacious strategic ambition.

The insurer in a statement released recently disclosed this known following the successful completion of its recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA)

According to statement released by the insurer, that is accelerating a transformation built for the next decade, one that places digital-first service delivery, expanded capacity, and long-term policyholder commitment at the centre of its next growth trajectory.

For Leadway, meeting the National Insurance Commission’s (NAICOM) revised minimum capital requirements affirms that its business is structurally strong, its strategy is resilient, and its obligation to customers extends well beyond any regulatory cycle.

The strengthened capital base now positions Leadway to underwrite larger and more complex risks, champion financial inclusion at scale, and play an active role in Nigeria’s ambition to build a US$1 trillion economy.

According to the insurer its post-recapitalisation roadmap is anchored on three distinct but interconnected growth opportunities.

The first is the high net worth individual and premium segment, where growing personal wealth, asset complexity, and lifestyle sophistication are driving demand for tailored, relationship led insurance solutions. Leadway’s deepened capital position enables it to underwrite larger individual exposures and deliver the bespoke service this segment demands.

The second is critical sector and infrastructure coverage, encompassing major public and private sector projects, energy, manufacturing, and large-scale enterprise risk. With greater underwriting capacity, Leadway is now equipped to anchor complex risk programmes across Nigeria’s most strategically significant industries, serving as the risk backbone for the country’s most consequential investments.

The third is Nigeria’s next generation and a growing population of digitally native, entrepreneurially minded young Nigerians and small business owners who are redefining what they expect from financial services. Leadway is meeting that expectation head on.

For Nigeria’s next generation, it means accessible, mobile-led entry points into insurance for a demographic that expects digital as a baseline.

For HNIs and corporate clients, it means seamless, data-driven service with the depth and sophistication their portfolios require. For SMEs and agricultural businesses, it opens a path to affordable, appropriately structured coverage. Leadway’s digital focus is also directly aligned with the NAICOM Implementation Working Group’s vision of accelerating digitalisation and deepening financial inclusion across the Nigerian insurance sector, a vision Leadway is not merely endorsing but actively building.

Speaking on the above its managing Director/ CEO of Leadway Assurance, Gboyega Lesi, said, “We have spent the last several years building a business that is technically stronger, digitally tuned, and strategically positioned to serve Nigeria at a level this industry has not seen before. What recapitalisation gives us is the impetus to pursue that ambition at full scale, underwriting the risks that matter to Nigeria’s biggest enterprises, to design products that speak to a generation that will drive this economy for the next generation, and to honour every commitment we have made to our policyholders with the full weight of a well-capitalised institution behind us. Leadway is not entering a new chapter because a regulator asked us to; we are entering it because we are ready.”

“We commend NAICOM for providing a clear, forward-looking regulatory framework, welcome the discipline it demands and the confidence it instils across the market.”

Leadway’s expanded capacity also positions it as a natural partner for national development. With the ability to anchor major risk programmes, support infrastructure projects, and deepen enterprise coverage across finance, energy, agriculture, and technology, Leadway is building the institutional strength required to serve as Nigeria’s insurance backbone as the economy grows. Across every segment it serves, individual, commercial, and institutional, the message is consistent: the company is here for the long term, and the long term starts now.

About Leadway Assurance

Leadway Assurance is one of Nigeria’s leading insurance companies, with over 55 years of experience delivering a comprehensive range of financial protection services, including life insurance, general insurance, and diversified financial solutions.

A member of the Leadway Group, the company is committed to innovation, superior service, and long-term value creation for customers, partners, and stakeholders across Nigeria and beyond.

The post Leadway Assurance Sets Bold Post-Recapitalisation Agenda Beyond Compliance appeared first on Business Today NG.

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NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio

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BY NKECHI NAECHE-ESEZOBOR—NSIA Insurance Limited one of Nigeria’s most recapitalised insurance company, on Monday released its financial statement for the year ended 31st December, 2025 with 18 percent growth in revenue.

The Chairman of the company, Dr. Adesegun Akin-Olugbade, disclosed this today during a press briefing that revenue grew to ₦33 billion in 2025, representing an 18 percent growth over N30.1 billion reported in the previous year.

Profit after tax stood in excess of  ₦2 billion while total assets stood at ₦53 billion.

Committed to prompt claims payment, he said the company paid a total of ₦18 billion in claims in 2026, bringing its cumulative claims payout over the last four years to ₦47.9 billion.

Speaking further on just concluded recapitalization, he said “At the AGM, the shareholders ratified the capitalisation of N6 billion from retained earnings, increasing the company’s issued share capital from N9 billion to N15 billion through a bonus issue of two new shares for every three shares held, this strengthened the company’s capital base without requiring any additional investment from shareholders and ensured full compliance with the Nigerian Insurance Industry Reform Act of 2025.

This achievement according to him was driven by sustained financial performance, with shareholders’ funds growing by 74.3 percent from N13.6 billion in 2021 to 23.7 billion in 2025, supported by cumulative profit after tax of over N9.3 billion during the period.

The move he said will strengthened the company’s capital base without requiring additional investment from shareholders, while ensuring full compliance with the Nigerian Insurance Industry Reform Act of 2025.

He noted that as part of its strategic repositioning,it  has transitioned to operate exclusively as a non-life insurer, enabling the company to deepen its focus on general insurance.

He disclosed that its proposed transfer of its life insurance portfolio will be to CHI Consolidated Hallmark CHI Life Assurance Limited, and this, he said has received approval in principle from National Insurance Commission,(NAICOM), and will be completed upon the conclusion of the remaining legal and regulatory processes.

Looking ahead, he reassured that NSIA  remains committed to disciplined underwriting, digital innovation, superior customer service, and sustainable value creation for its customers, shareholders, and the Nigerian economy.

Also, managing Director/CEO, of the company, Moruf Apampa, explained the company’s decision to divest its life insurance portfolio to CHI Life Assurance Limited.

According to him the decision was deliberate and designed to eliminate distractions that could hinder growth in the general insurance segment.

“We’ve decided to have a more focused strategy to drive our general business. By doing so, we’re able to scale better than before because there’s no distraction — we’re focused on driving the numbers,” he said.

He disclosed that a key part of the company’s strategy is to achieve deep household penetration across the country, targeting what he described as an “NSIA family” in every Nigerian home.

“For every householder in Nigeria, we must have an NSIA family. That’s very strategic for us, and it’s deliberate. That’s where we believe we can scale, and that’s what we intend to do deliberately over the next five years,” he said.

Highlighting the company’s strength in motor insurance, he said NSIA has built a claims process designed for speed, with dedicated teams inspecting claims and, in many cases, processing payment on the same day.

“When I say motor, I can conveniently tell you that if you report a claim today, we have a team that will inspect that same claim and give you feedback that same day. If possible, once you sign, you also receive your benefit that same day,” he said, adding that this reflects the kind of institution NSIA aims to be.

He stressed that the company prioritizes customers over profit, arguing that insurers should not celebrate strong profits while shortchanging policyholders on claims.

“We’re not putting profit before the customer — we’re putting the customer before the profit. How would you feel if we came here to announce a ₦3 billion profit, but only ₦2 billion was paid out as claims, while customers outside are complaining?” he asked.

According to him, consistent delivery of value to customers is what builds trust and repeat business in the insurance industry.

“It’s usually about the message, not the messenger, and the message is always right. By delivering value to the customer, that’s when they gain the confidence to come back, repeat their purchase, and tell others that insurance actually works,” he said.

The post NSIA Insurance Grows Revenue by 18% to ₦33bn, Divests Life Insurance Portfolio appeared first on Business Today NG.

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PZ Cussons Nigeria to pay shareholders N9.9 billion dividend after four-year pause

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PZ Cussons Nigeria is ending a three-year lull in dividend payment to distribute N9.9 billion to shareholders as its retained earnings swung back to positive for the first time since taking a hit in 2023.

In a corporate disclosure on Monday, the local subsidiary of Manchester-based consumer goods producer PZ Cussons detailed a proposal to pay a N2.50 dividend per share for the year ended 31 May 2026, fixing the qualification date for 9 October and payment for the 30th of the same month.

The compensation package also offers an alternative of receiving shares instead of dividends to those who prefer increasing their existing holdings in the company to taking immediate cash rewards.

Either way, both options require shareholders’ assent at the next annual general meeting in October for the board to further the plan.

“The reference share price for the purpose of determining the number of shares due to qualifying shareholders who elect for the share option will be a ten-day trading average of the company’s share price on the floor of” the NGX starting on 12 October, PZ Cussons said in the document.

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The company last paid a dividend in 2022, having been largely incapacitated by a sweeping foreign exchange loss that tipped its accounts into a N90.3 billion net loss in 2024.

READ ALSO: PZ Cussons’ annual profit quickens by 298% as asset disposal boosts earnings

That year, PZ Cussons, like many manufacturers in Nigeria that rely on raw material imports for most of their operations, reported an FX loss of N157.9 billion after major devaluations of the naira, beginning from 2023, wore away over 70 per cent of its value, compared to the dollar.

Retained earnings, from which companies pay dividends, have been in the red since 2024, only turning positive in the year under review, thanks to a 349 per cent surge in profit to N45.2 billion.

Proceeds from asset disposal totalling N38.7 billion drove the profit rise.

Turnover in the review period scaled up by 22.5 per cent to N260.5 billion on account of improved sales from its home and personal care products division.


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